The Bank of Maldives (BML) has stated that all financing provided by the institution is issued strictly in accordance with the Maldives Banking Act, relevant regulations, and international banking standards, following allegations raised by the opposition Maldivian Democratic Party (MDP).

In a statement published on X yesterday, BML spokesperson Mohamed Saeed said the opposition had written to the bank alleging that loans were being issued illegally to contractors involved in 206 Government-awarded projects. He dismissed the claims as unfounded and said the financing of contractors for projects signed with private companies in the Maldives had been misrepresented in public discussions.

Saeed said the statements circulating on social media were not based on factual information, stressing that the bank remains committed to its established credit policies. He added that all lending decisions are made independently by the BML Board, without external influence.

The spokesperson further described the spread of false information regarding the bank’s operations as irresponsible, noting that such claims could mislead customers and shareholders. He urged the public to refrain from sharing inaccurate statements made for political purposes.